CONMED Corporation (CNMD)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	780,689	796,148	803,555
Total stockholders’ equity	US$ in thousands	834,222	796,205	780,194	752,453	745,545	716,337	672,968	789,546	785,435	755,683	744,499	725,570	709,038	683,141	674,898	701,635	710,467	700,922	697,009	693,057
Debt-to-equity ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.11	1.14	1.16

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $834,222K
= 0.00

Conmed Corp.'s debt-to-equity ratio has fluctuated over the last eight quarters. The ratio was relatively stable in Q4 2022 and Q1 2022 at 1.41 and 0.91 respectively. Since then, there has been a general increasing trend, reaching a peak of 1.46 in Q2 2022 before experiencing a slight decrease in subsequent quarters.

The ratio surpassed 1 in Q4 2022 and has remained above this threshold, indicating that the company relies more on debt financing compared to equity. This suggests a higher financial risk as higher debt levels can lead to increased interest payments and financial obligations, potentially impacting the company's financial stability and flexibility.

The recent decrease in the debt-to-equity ratio from Q2 2023 to Q4 2023 might indicate that Conmed Corp. is taking steps to reduce its debt levels relative to equity, which could be viewed positively by investors and creditors as it may lower the company's financial leverage and risk profile. Continued monitoring of this ratio will be necessary to assess the company's ongoing financial health and risk management strategies.